The U.S. Automotive Battery Aftermarket research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The U.S. automotive battery aftermarket size is estimated to reach USD 4.2 billion, by 2025, and is projected to grow at a CAGR of 1.4% from 2018 to 2025, according to a new report by Million Insights. The increasing demand for electric vehicle is expected to be a key factor fostering growth of the market.
Key Players:
- A123 Systems, LLC
- East Penn Manufacturing Company
- EnerSys
- Delphi Automotive PLC
- Exide Technologies
- Johnson Controls
- NEC Corporation
- Samsung SDI Co., Ltd
- Tesla
- Interstate Battery System of America, Inc
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Growth Drivers:
Federal & international agencies and the Environment Protection Agency (EPA) have implemented stringent policies owing to rising air pollution. For example, the U.S. environmental protection agency regulates storage-related concern about lead-acid batteries to reduce air pollution. Additionally, international air transport associations have set the guidelines owing to lithium batteries.
Regulation of Kyoto protocol for reducing the release of greenhouse gases, which is projected to positively impact the growth of electric vehicles. In addition, strict guidelines regarding carbon emission are surging the need for start-stop technology in batteries. Furthermore, rising government funding and investments are also expected to drivethe demand for HEVs. For example, the American reinvestment & recovery act has provided funds to manufacturers to develop HEVs.Increasing environmental concerns and changing fuel prices are projected to influence the consumer to look after electric vehicles. Technological advancement is allowing suppliers, and OEMs to partner and collaborate with technology solution provider companies. These initiatives are expected to create huge opportunities for market growth especially in developing battery charging solutions.
Battery Type Outlook:
- Lithium-ion
- Lead Acid
- Nickel-based
- Sodium-ion
Vehicle Type Insights:
- Passenger Vehicle
- Electric Vehicle
- Commercial Vehicle
Distribution Channel Outlook:
- Retail/Brick
- E-commerce
COVID-19 Impact Insights:
The COVID-19 pandemic has negatively impacted the U.S. automotive battery aftermarket. COVID-19 outbreak has slowed down the production of passenger and commercial vehicle. Various OEMs, and battery cells suppliers are facing supply chain disruption as a result the market has witnesseda decline in auto sales. For instance, the sales of electric vehicles (EVs) in the U.S. were dropped by 33.0% during the first quarter of 2020.
U.S. automotive battery manufacturers purchase battery cells from China, but COVID-19 pandemic has slowed the shipment and supply chain of batteries. Thus,the manufacturers are focusing on localizing their supply chain network to mitigate production risks.
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